Meralco Starts Bidding for 500-MW renewable energy supply

MANILA, Philippines — Manila Electric Co.  (Meralco) has started the Competitive Selection Process (CSP) for 500 megawatts (MW) of mid-merit renewable energy (RE) capacity.

The Competitive Selection Process (CSP) for 500 megawatts (MW) of mid-merit renewable energy (RE) capacity has begun at Meralco.

This is in compliance with the policy on Renewable Portfolio Standards by the Department of Energy (DOE), as well as Meralco’s ambition to utilize more RE sources for its supply requirements.

The 10-year Power Supply Agreement (PSA) resulting from this CSP will cover Meralco’s 350-MW mid-merit requirement starting February 2025, which will increase by 150-MW beginning February 2026.

This CSP will lead to a 10-year Power Supply Agreement (PSA) to cover the company’s 350-MW mid-merit requirement starting February 2025, and 500-MW requirement in February 2026.

Power generation companies from Meralco’s bids and awards committee for PSAs are welcome to submit their expression of interest by June 7 2024. The pre-bid conference is on June 17, and the bid submission deadline is on July 17.

1880 MW of RE capacity from various suppliers has already been contracted by Meralco for its long-term sustainability strategy, which surpassed its initial target of 1500 MW.

By 2030, Meralco’s supply portfolio is projected to be 20% sourced from RE.

Source: Meralco seeks bids for 500-MW renewable energy supply